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Premium Brands Holdings Corporation Reports Record Second Quarter Results Two Acquisitions And Declares Third Quarter Dividend

Press Release

VANCOUVER, B.C., August 5, 2022. Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the second quarter of 2022.

SECOND QUARTER HIGHLIGHTS

  • Record second quarter revenue of $1.52 billion representing a 23.1%, or $285.2 million, increase as compared to the second quarter of 2021
  • Record second quarter adjusted EBITDA1 of $130.8 million representing a 16.6%, or $18.6 million, increase as compared to the second quarter of 2021
  • Record second quarter adjusted EPS1 of $1.38 per share representing a 12.2%, or $0.15 per share, increase as compared to the second quarter of 2021
  • The Company increased its 2022 revenue guidance range to $5.75 billion to $6.0 billion and maintained its 2022 adjusted EBITDA guidance range of $510.0 million to $530.0 million
  • Clearwater Seafoods generated record second quarter adjusted EBITDA of $31.3 million and earnings before distributions to shareholders of $10.7 million
  • The Company announced the acquisitions of King’s Command, an Ohio based cooked protein manufacturer, and Golden Valley Farms, an Ontario based deli meats manufacturer
  • The Company declared a dividend of $0.70 per share for the third quarter of 2022

1 The Company reports its financial results in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. Adjusted EBITDA and adjusted EPS are non-IFRS financial measures. Reconciliations and explanations for all non-IFRS measures are included in the Non-IFRS Financial Measures section of this press release.

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